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The Evils of Obscene Income Inequality

The greed, excess and selfishness that brought liberal democracy and capitalism to the edge of the abyss have been demonstrated once again by thelatest research from Income Data Services (IDS). It shows that the pay of directors of the UK’s top businesses (FTSE 100) rose by 49% over the past year, bringing their average pay package to about £2.7 million. This is at a time when average pay nationally for private sector workers rose by 2.6%, a cut in real wages when inflation is running at 5.2%. The march of income inequality is gathering pace, with total disregard to the effect such injustice and unfairness have on society.

There is ample evidence to demonstrate that this is not related to the performance of these companies, but based on complicated formulae, with pay panels comprising like-minded people that recommend raises regardless of how the company performs. In any case, the performance of a company surely does not depend entirely on the performance of a few people at the top, but on the entire workforce. If the company is successful, rewarding the bosses only is insulting to everybody else who has contributed to that success. It is divisive and unjust.